"With only 23 Ontario long term care ("LTC") residences within our portfolio of over 200 residences across four provinces in Canada, Chartwell is predominately a retirement company. However, Chartwell fundamentally believes that long term care is an important part of the health care system and we take great pride in our LTC operations, most especially the commitment of our front-line staff, the experience of our LTC leadership teams and the processes, policies and protocols we have in place to protect our residents and employees during the heightened risks of COVID-19. Our corporate leadership team overseeing our LTC residences, which includes our President and Chief Operating Officer Karen Sullivan, represents over 85 years of combined experience in long term care.

"We fully anticipate that a time will come for all LTC operators, sector associations and stakeholders to come together with the provincial government to explore opportunities to improve and enhance the system. We welcome those discussions. That said, the current focus of many media accounts has allowed those sharing misinformation and speculation to become a louder voice than the ones recognizing the incredibly hard and heroic work of those on the front line. We would like to contribute some fact-based information for our investors, the media and all those interested in better understanding our LTC operations:

Chartwell has approximately 3,385 LTC beds out of approximately 30,000 total suites that Chartwell owns or manages. This represents 11% of our total suites.

Government funding for direct care and resident programs in Ontario LTC is 100% dedicated to resident care and programs through pass-through envelopes. No operator can make a profit from this funding. Return on invested capital can only be generated through accommodation revenue sources which are also set by government.

Over 5,000 employees work in Chartwell LTC residences.

LTC is a highly regulated environment. As the Ontario Long Term Association ("OLTCA") has reported[1] 'LTC homes are inspected annually by the Ministry of Health and Long-Term Care against more than 600 regulations — with more than 1,000 requirements — that look at everything from cleanliness to resident safety.'

"Quality of care is about caring for people; seeing our residents as individuals. Knowing that they are loved by their families and that living in a Chartwell LTC residence brings not only support but care, compassion and connection for our residents. That they are safe. Chartwell has had a strong record of performance with respect to the publicly reported quality indicators ("QI") when compared to Ontario's provincial average. The publicly reported QIs measure antipsychotic drug usage without a diagnosis of psychosis, residents who have fallen within the last 30 days, restraint usage, residents with pain, residents with worsening pain, and worsening stage 2-4 pressure ulcers.

In Q4 2016, Chartwell was better-than-provincial average on 3 out of 6 indicators;

in Q4 2017, Chartwell was better-than-provincial average on 5 out of 6 indicators; and

beginning in Q3 2018 through to Q4 2019, Chartwell has been better-than-provincial average on all 6 of the QIs.

"Chartwell's success has been attributed to our focus on our core programs. Chartwell residences are focused on the safe reduction of restraint and bed rail usage; the initiation of a designated Skin and Wound Coordinator who has advanced wound-care knowledge to support residents with ulcers; and the introduction of a new comprehensive falls prevention program. In 2019, we also developed our own signature program "Imagine" which focuses on supporting our residents living with dementia. The introduction of this new program has positively impacted our residents; reducing the number of falls and antipsychotic drug usage in our homes.

"The COVID-19 virus is known to have a more profound negative effect and is causing higher morbidity rates for people with pre-existing health conditions and/or weakened immune systems. That is the profile of the majority of residents in LTC. Of Chartwell's current 95 COVID-19 related deaths, 85 have unfortunately occurred in our LTC residences. Every one of those deaths is one too many and I am sorry that despite all our efforts, we were unable to protect all of our residents from this harmful virus. My sympathy and thoughts are with families of those directly impacted by this pandemic.

"The truths that must also be told are how our preparedness measures and response actions have allowed us to keep the majority of our residents safe, have reduced further transmission risks and have supported many others in recovering from COVID-19; how the extraordinary efforts of our regional and corporate support teams allowed us to provide strong support and clear directions to our residences teams so that they can fully focus on delivering direct care to our residents; and how, despite the global supply chain disruption and skyrocketing worldwide demand, we were able to source sufficient quantities of personal protective equipment and, with the help of various governments, protect staff and residents at all our residences. We thank governments across Canada as well as public health agencies for their support. But most of all, we thank our incredible employees whose commitment is humbling when you consider that every day in our homes they are caring for someone else's loved one under these incredibly difficult pandemic conditions. I am grateful to each and every person working or volunteering in a Chartwell residence. Our residents may be isolated and away from loved ones right now for their safety, but they are never alone."

About ChartwellChartwell is an unincorporated, open-ended real estate trust which indirectly owns and operates a complete range of seniors housing communities, from independent supportive living through assisted living to long term care. It is the largest operator in the Canadian seniors living sector with over 200 quality retirement communities in four provinces, including properties under development. Chartwell is committed to its vision of Making People's Lives BETTER and to providing a happier, healthier and more fulfilling life experience for its residents. For more information, visit www.chartwell.com

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Chartwell is an unincorporated, open-ended trust which indirectly owns and operates a complete range of seniors housing communities from independent supported living through assisted living to long term care. It is the largest owner and operator of seniors residences in...